Turkey Inflation Rate at 5-Month Low of 7.16% in October


Consumer prices in Turkey increased 7.16 percent year-on-year in October of 2016, following 7.28 percent growth in the previous month and below market expectations of 7.4 percent growth. It was the lowest inflation rate since May, as cost of housing and utilities at a slower pace. On a monthly basis, consumer prices jumped 1.44 percent, driven by 10.4 percent growth in clothing and footwear prices.

Year-on-year, prices rose at a slower pace for housing and utilities (+5.5 percent from +6.64 percent in September); clothing and footwear (+60.7 percent from +7.03 percent); health (+9.39 from +9.65 percent); miscellaneous goods and services (+9.34 percent compared to +10.03 percent) and education (+9.58 percent compared to +10.37 percent). In contrast, inflation accelerated for food and non-alcoholic beverages (+5.2 percent compared to +4.16 percent); transportation (+8.19 percent compared to +7.54 percent); and hotels, cafes and restaurants (+8.34 percent compared to +8.31 percent).

On a monthly basis, consumer prices surged 1.44 percent, while below market expectations of a 1.62 percent growth, mainly driven by a 10.43 percent increase in cost of clothing and footwear and 2 percent rise in transportation.

 Turkey Inflation Rate at 5-Month Low of 7.16% in October


Turkstat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
11/3/2016 8:48:56 AM